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Markets trade lower.

Markets have opened lower in trades today tracking weak global cues. The Sensex has opened lower by 54 points to open at 16,865 and the 50-share Nifty has opened lower by 16 points at 5,112.
HCL Technologies, India’s fourth-largest software services exporter, reported a 29% rise in quarterly net profit, just shy of expectations, after winning more outsourcing orders amid the global economic uncertainty. The stock reacted positively and jumped 5.3% to Rs 507 in the opening deals post this development.

Jindal Steel is the top loser among the Sensex stocks. The stock has opened lower by 2.4% at Rs 405 after it called off its showcase $2.1-billion Bolivian venture, Jindal Steel & Power Ltd (JSPL) seems to be caught in a major legal tangle with the country’s government.

Maruti Suzuki, ONGC, Wipro, Bajaj Auto, Larsen and Toubro, Coal India, BHEL, Hindustan Unilever, ITC, Bharti Airtel and Hindalco have also opened weaker by 0.6-1.5% each.

On the other hand, HDFC Bank, Gail India, Sun Pharma and Infosys are among the notable gainers from the heavyweight pocket.



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